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MADISON, Wis. (WMTV) – Wisconsin saw the largest increase in its equalized property value in over 40 years, the Wisconsin Department of Revenue (DOR) announced Monday.
In its report, the DOR showed that Wisconsin’s total statewide equalized property value was $745 billion- a 14% increase from 2021. This increase shown from January 1 to December 31, 2021 is the largest since 1979, DOR officials said.
The DOR report showed growth in all property classes, but was residential and commercial properties led the pack.
The growth highlights a $90.6 billion change in equalized value from market value increases and new construction. The DOR said Menominee and Price Counties saw the largest increase in market values at 31% at 19%, respectively.
Equalized values are reported annually to promote fairness and equity in property tax information, though changes in values don’t necessarily mean a change in property taxes, DOR said.
| Classification | % Increase |
|---|---|
| Residential | 15% |
| Commercial | 13% |
| Manufacturing | 5% |
| Agriculture | 6% |
| Undeveloped | 6% |
| Ag Forest | 9% |
| Forest | 8% |
| Other | 8% |
You can find more information about equalized value reports here.
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